This was a report of a 1994 American Management Study of 713 major U.S. Companies.

Over the past five years, 2/3sof US companies haveundergone downsizing (16.7 milion jobs cut since 1991). American Management Association annual survey reports that nearly 30% of employers plan to eliminate jobs this year, the highest percentagein the surveys 8 year history. Typically, the number of firms that actually make cuts is double the number of those that say they will.

Friedman, Jill. Four Questions to Ask Before Accepting a Buyout. Working Woman, October 1996, pp 25-26.